Julian Alvarez picks dream next club as Arsenal, Chelsea hold ‘positive talks’ and surprise price tag emerges | OneFootball

Arsenal and Chelsea have maintained a steady line of communication over Julian Alvarez since TEAMtalk revealed their interest last month, and both clubs have received ‘positive reports’ as they consider a blockbuster summer move.

We can reveal both London clubs have actively discussed numbers and the structure of a potential deal. Insiders say the overall fee being discussed is below £100million – perhaps lower than expected given his world-class stature.

Alvarez, 26, has grown increasingly frustrated with life at Atletico Madrid in recent months, prompting his representatives to explore alternatives.

Barcelona have held talks and current sporting director Deco, a big admirer of the forward, has made it clear to suitors that the Camp Nou is his first choice.

That preference, however, comes with a caveat: Barcelona’s transfer business is largely on hold while the club prepares for presidential elections on March 15, with incumbent Joan Laporta the favourite to be re-elected. Sources close to Alvarez’s camp accept there are no guarantees a move to Barca will materialise.

Despite Barcelona being the preferred destination, Alvarez’s representatives have been transparent with other interested parties – including Arsenal, Chelsea and Paris Saint-Germain – that a Camp Nou switch tops the list.

With uncertainty in Catalonia, the player is open to returning to England. As we exclusively revealed on January 22, Arsenal and Chelsea have both held talks with his camp. Crucially, if coming back to the Premier League, he would only consider a move to London at this stage.

Both Arsenal and Chelsea have been conducting thorough due diligence on Alvarez. Reports on the former Manchester City man’s condition and form have been positive, per sources, which has only increased both clubs’ appetite to push forward if Barca’s situation stalls.

If Barcelona’s election outcome impacts on the club’s transfer activity and it remains constrained, expect Arsenal and Chelsea to step up their efforts; both clubs are ready to move quickly should the opportunity arise.

Alvarez joined Atletico from Man City in a deal worth around £82million in the summer of 2024.

Since, the Argentine international has made 89 appearances for the Spanish side, notching 40 goals and 13 assists in the process.

But he is ready to take on a new challenge and he has already proven himself in the Premier League, having helped Man City to lift back-to-back league titles in 2022/23 and 2023/24.

With this in mind, it’s no shock to see Arsenal and Chelsea both showing interest in Alvarez and holding talks. The saga surrounding his future could prove to be one of the biggest of the summer.

Latest Arsenal news: Man Utd transfer battle / Sandro Tonali interest

Meanwhile, reports suggest that Arsenal have joined the race for Everton winger Iliman Ndiaye – who we have already revealed is a target for Manchester United.

Everton are very reluctant to let Ndiaye go and would therefore demand a huge fee for his signature, but that doesn’t seem to be putting the Gunners or the Red Devils off.

In other news, we have confirmed that Arsenal have held informal talks with Sandro Tonali’s representatives recently, with the view to a potential summer move.

Manchester City and Liverpool have also had conversations. Tonali is considering moving on from Newcastle, but a return to Serie A tempts him, where Juventus and Inter Milan are interested.